Michelin becomes shareholder in rugby club ASM Clermont Auvergne
Tire manufacturer Michelin has become a shareholder in the French rugby league club ASM Clermont Auvergne. The investment aims to improve the club's financial stability and support its athletic goals.
Global tire manufacturer Michelin has confirmed its strategic investment as a majority shareholder in the French rugby union club ASM Clermont Auvergne. The issuance of new shares was approved at an extraordinary general meeting held on Tuesday, June 13. Michelin assumes a significant role previously held primarily by the ASM Omnisports organization.
Michelin's stated ambition is to support the club's athletic recovery and enhance the "Yellow Army" brand. The club's financial situation has been impacted in recent years by factors including sports performance, the COVID crisis, and insufficient revenue from television rights. Michelin's capital injection is expected to establish a more stable economic foundation for the club's operations.
In the long term, Michelin plans to open the club's capital to other shareholders, particularly local economic actors. The objective is to build a lasting and sustainable project that ensures the club's continuity and development.
As part of its strategic transformation, the club has appointed Benoît Vaz as General Director, who will oversee operational development. Michelin's involvement is seen as a twofold commitment: to bolster regional athletic excellence and demonstrate the company's dedication to the area's development. This support is considered vital for the club during its current organizational restructuring.